I'm going to look at the best of the Capital One credit cards for 2019, it has been probably a little more than a year since the last time I sort of talked about what the best of the Capital One offerings are.
We're going to do that in this post, look at the best, but then also I'm going to offer sort of an overview of the Capital One card offerings. For consumers as well talk about what is good and bad, about each one who they might be good for, how they compare to, what else is on the market, etc, and so forth and so on.
I should say before I go further that in general Capital One is not the most competitive, does not offer the best cards on the market in almost every single case. I should say probably in every single case, I could tell you of a better card in comparison to every one of the cards that I am going to talk about here.
However, Capital One has a reputation, I think it is a well-deserved reputation for having easier acceptance, even though none of these cards are necessarily going to be the best cards on the market. It is possible that they may be the best credit card for you.
If they are the cards that you can be accepted for and maybe you would be rejected for some of the other cards depending on where your credit score is. I'm going to talk about them, but I also will mention sort of how they stack up within the market.
Capital One takes on more risk
If your credit score is higher this post may be less interesting to you or at least you may know what you steer away from and with to what to look toward. If you're somewhat somewhere in the middle, these may be the cards that aren't you are very interested in.
Because you may have a better chance of being accepted. This is no knock on Capital One necessarily, every credit card company has to sort of balance the offerings they have. With the risk of taking in terms of the customers they choose, maybe you wouldn't stay in business very long if you offered maximum warts and you gave them to people who were riskier customers.
Capital One sort of takes on more risk but they then give a little bit less in rewards, depending on where you fit that would be sort of what your decision is, I guess in terms of whether Capital One is for you. Anyway, let's get going because I'm going for too long here rambling on.
Capital one saver card
Number one, the capital of one saver or capital one that saver one rewards. Now to say that the best one I'm already telling you two different cards, but the reason I say here is that one of them is more the short-term choice and one of them is more the long-term choice.
Now the capital one saver card is the card that is the short-term choice. This is a card that has no annual fee in the first year, but then a $95 annual fee kicks in terms of cash back.
It gives you four percent on dining and entertainment purchases, two percent in grocery purchases, one percent on anything else you buy. You can also get a $500 bonus when you are a new cardholder if you spend $3,000 in the first three months.
A great first year deal, but once that $95 annual fee kicks in not so much because then the saver one card probably would be better unless you are somebody that spends over $10,000 within that dining and entertainment category within the course of the year, which probably is not most people the saver one card has no annual fee ever.
Savers got the big bonus
It offers similar benefits to the saver card, the only real difference is that it has a three percent rebate on those dining and entertainment purchases, still, 2% in groceries, is still 1 percent on everything else.
Now if you've got this card, to begin with, the bonus would be much less, you can only get a $150 bonus if you spend $500 or more per year with this card, so savers got the big bonus. For the short term, you get that bonus and you get that extra 1% on dining and entertainment purchases.
The first year great, but after that first year $95 granule feet kicks in, and then you would have to be a big spender in that dining entertainment category to make it better than capital ones savor one card, that doesn't have the annual fee now. I personally actually have the saver card because I wanted to go after that bonus, so that was very attractive to me.
How to get short-term benefits
But I got it not very long ago, and so when my one year anniversary comes up there's going to be a decision for me, I am probably going to go to Capital One and say you need to waive that annual fee for me and if they don't then I'll probably cancel the card. That's part of the process when you look at credit cards.
If I'm going to get something for the short-term benefits what am I going to do when that year is up? If I don't want to pay the annual fee they allow me to have another card or they waive that annual fee. What is the situation going to be for me?
I may have that card for a year and then it may just go away and I may not have the capital one card at all if they won't waive the fee or product change me to a different card. Anyway, either way, the saver cards I would say are the best of what Capital One offers, either way, that you go now looking at the market.
In general, the Uber visa is a card that offers you four percent on dining with no annual fees, so if you were looking at that four percent in particular on dining as being an attractive thing that's another card that you might go after instead. But these are pretty decent cards, and the best of what Capital One has now.
The venture one card
Number two is another situation where it's sort of an either/or with that short term versus that long term thinking, and that is the capital one venture rewards card or the venture one card. Now the venture rewards card has no annual fee in the first year, and then a $95.
And you'll see the same way as that saver card worked. It is a card that gives you two miles per dollar on every two miles for every dollar that you make in purchases.
I hate that they call them miles because they are not necessarily miles, they're really points in the past, they weren't even anything close to miles. They were only points that you could use to redeem toward travel purchases that you had made.
They could be used on any particular airline, then they essentially were cash back. When they were saying two miles they essentially were saying that you were getting a two percent rebate.
Improved to have some airline partners
Now the card is sort of improved in a couple of ways since last year. One of them is they now have some airline partners, so if you transfer these miles into one of these programs you could actually think of them as being miles with an actual airline now.
They're not necessarily the greatest airline travel partners for everyone, they are international airlines, Air Canada, Air France-KLM, and there are some other ones in there as well. I think there are 14 or 15 of them now, but they're all international airlines that you can transfer those miles into anyway is two miles per dollar or two points per dollars.
How you could think of it? You can get 50,000 miles to slash points if you spend $3,000 with this card in the first three months of having it. So again this is a card that gives you a nice big bonus on the front end.
It's giving you those two miles per dollar, which you could think of like 2% or maybe a little bit more depending on how you use them. There are also some other perks with this card, you get 10 points per dollar on hotels.com purchases, but anyway, the good part about this card is in the short term.
Venture One card
Once that $95, and you'll feed kicks in, again it sort of brings up that question of what the value is, and that's where the adventure One card comes in. Because this is a card that gives you one point two five miles or points per dollar, which seems significantly less than two miles.
But unless you are somebody that spends over a thousand dollars a month, are over 12,000 dollars per year really, once that annual fee kicks in you would actually have to be spending more than that for the venture rewards card, to be the better card over the venture one card.
The venture one card has only one point two five miles per dollar, but it has no annual fee and it has a bonus offer that is twenty thousand miles if you spend one thousand. So obviously it less of a bonus, venture rewards gives you more miles. It gives you a bigger bonus, but then the eventual the venture rewards I think I just said.
Adventure one card
The adventure one gives you fewer miles and less of a bonus, but then you get into that same position of short-term versus long-term. If you were going to get the venture rewards card and you didn't want to pay then you'll feet ache advantage of that short-term.
But then you have to ask yourself, do you want to cancel that card at the end of the year or do you want to pay that annual fee? And you think you will use the card enough for it to be worth it or should you just get the venture one card off the bat, even though it has less of a bonus and you know less in that first year because you want to carry the card over the long term. That's a decision you have to make.
If you're looking at those cards, Capital One is a little complicated in terms of how they have these multiple cards here that they're very different, because they are the short-term versus the long-term. Anyway, those are the Capital One Venture card, venture rewards, venture one, and now it'll get easier from here on out.
Capital One Quicksilver card
Number three is the capital one Quicksilver card, is a flat 1.5% cash back card, you can get a bonus of $150 if you spend five hundred dollars with the card in the first three months, no annual fee.
This is a card that used to be very competitive in the space of flat cash back, in fact, it was one of the first, if not the first to offer a flat 1.5% cash back these days there are a zillion 1.5% flat cash back cards, and there are multiple two percent flat cash back cards.
While this card is still decent within the capital one lineup, there are many other cards that can either match it or beat it out on the market. It's sort of up to you in terms of what you're looking at in a card, and how it compares to what else is out there, and what you can be accepted for, so that is number three.
The other Capital One cards
Now from here, I'm going to just kind of look at some of the other Capital One cards. These aren't so much of ranking, as they are sort of a few thoughts on how the rest of the lineup fills out, and if you're looking at any of these cards maybe it'll help you at least a little bit and thinking about whether it is the card for you.
Capital one Quicksilver one card
We just talked about the capital one Quicksilver, there is also a capital one Quicksilver one card, that is essential for people whose credit scores are not as good, that is a card that still gives you 1.5 percent flat cash back, but there's a thirty-nine dollar annual fee. You are going to be paying for that card.
But if your credits not as good at maybe a card that is interesting to you, because it's an unsecured card that does have some rewards to it, so it may be something that you still would make some sense for you depending on what your credit score is.
The Capital One Platinum Card
The Capital One Platinum Card is a card that on the surface, I would never recommend to anybody, it has no annual fee but it also has no rewards, and it has a very high interest rate, somewhere over twenty percent, usually anywhere from 22 to around 27 percent, depending on what offers they have out there.
The only reason it gets sort of any love, I guess from me and from other people out in the market is because of the fact that it is often the card that people use to sort of getting into the unsecured credit card game.
If you are building credit, don't have much of a credit history or you were someone that maybe had bad credit, and you've been building your credit back up oftentimes, the Capital One platinum is the card that people can get approved for when they can't get approved for anything else that is on the market.
That is unsecured or at least anything that is even halfway decent terms, versus these sort of predatory cards that really have a ton of fees on them. So not a great card on the surface, but a card that some people have some love for because of the fact that it's helped them on their credit journey and it may help you depending on where you are.
The Capital One's secured card
The Capital One's secured card is not the best-secured card on the market, but a decent card. Again if you are someone that is building or rebuilding credit if you didn't qualify for the Capital One platinum Capital One secured you have to put down a security deposit in order to get the card
But then you can use it to help you build credit. Provided that you make your payments on time this card does say that it will increase your credit line without any further security deposit.
If you make all your payments on time within those first five months, however, this card does not offer a real clear path to getting a sort of graduating to the unsecured level. I wish there was a little bit more, the capital one would do in terms of telling people that.
If you carry this card for X amount of time we will move you up to another capital one unsecured card, and that is not really clear, and people have had different experiences depending on who they are with it. Anyway, there are better-secured cards on the market, this isn't a terrible one, but there are other ones that I would probably choose instead.
The Capital One journey student rewards card
A student credit card that gives one point two five percent cash back on all your purchases unless you pay late, if you pay late in a particular month ago and a 1% back on your purchases in that month, not the best student credit card out there. There are better choices, this isn't a bad choice, it kind of fits in.
That fits in the genre I guess you could say if you're somebody that wants to build credit as a student, it's an okay choice. It's got a high interest rate, but the rewards aren't bad, there are some better choices out there, which we've talked about in another post, so that is it.
The Capital One platinum preferred
In terms of what we know Capital One is offering, there are two other cards, one of them was the Capital One platinum preferred, these are both cards at a little bit of a step up from the Capital One platinum, but maybe not as your credit scores would have to be higher to get to their sort of Saveur and venture type cards.
But these are ones that maybe step up from the platinum in terms of the credits, you need it. Hopefully they'll come back because they actually are sort of in this sandwich area there in between the two levels of cards, but anyway.
They're the Capital One platinum preferred, which is a card that didn't have any rewards but it was given a zero percent interest rate for the first camera, now if it was 12 months or 15 months, I think it was 15 months, but anyway it was a card that offered you a 0% rate on your purchases and your balance transfers but no rewards. It was more of a card that you were getting for that 0% rate for a while.
Capital One platinum preferred rewards card
Now the second choice there on this same level was the Capital One platinum preferred rewards card, March again maybe just a step up from the capital One platinum except for the fact that it did offer rewards 2% on gas and grocery purchases, 1% on any other purchases that you might make.
So whether those cards are coming back or whether they were a short-term test, and we're never going to see them, again I couldn't tell you but I think they were worthy of mentioning here. Neither one of those cards is again top of the market, you could find better cards elsewhere but depend on what your credit score is.
Capital One is often times a little bit easier than some of the other credit card issuers out there, so that was a lot to digest, and I know I went off on some tangents and kind of garbled, my words here and there, but that's just the way it goes some days. That was the overall look at the Capital One cards.
Other web page resource
Best Capital One Credit Cards of 2019: https://www.nerdwallet.com/best/credit-cards/capital-one-cards
Capital One credit cards of 2019: https://www.creditkarma.com/credit-cards/i/best-capital-one-credit-cards/